2452cc83Full suspension, Books examined
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Directors Make Statement. At noon the Little River News was furnished with a formal statement from the Directors of the Bank of Foreman. This is the first statement that has been made. It reads: "Bank of Foreman suspended business and its affairs placed in the hands of the State Bank Commissioner Friday morning, Jan. 20th, by resolution of the board of directors, who state that in their opinion there are ample securities to meet its obligations to all depositors."
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THE D. A. COOK BANK CASE BEING TRIED Former President of Bank of Foreman Being Tried on Charge of Accepting Funds, Etc. The case that has been attracting widespread interest this week and has been on trial since Thursday is the D. A. Cook case, the charge being that of accepting funds for an insolvent bank. The case grew out of the failure of the Bank of Foreman, which failed to open its doors on the 20th of January of this year, at which date it was placed in the hands of the state bank commissioner. D. A. Cook was active president of that institution. The state is represented by Prosecuting Attorney Geo. R. Steel, assisted by J. R. Morrell. The defense is represented by Jas. D. Head of Texarkana, Steel and Shaver of Ashdown and A. D. DuLaney of Ashdown. Due to the prominence of the defendant and general interest in the events leading up to this trial the 'trial is attracting large numbers of spectators. The attorneys on each side of the case are stubbornly contesting every point raised, and every shred of testimony offered has to stand the test of a court ruling wherever there is a possible doubt of its admissibility. The greater portion of the day Thursday was devoted to getting a jury. The state began to present its witnesses early in the afternoon Thursday and did not rest until about noon Friday when the defense began to present its case. It may take the entire day Friday to complete the testimony, maybe longer. There is no way of knowing. The jury that is trying this case is composed of the following good citizens of the county: Dr. J. L. Peavy, H. G. Preddy, Ben Strawn, J. I. Johnston, W. A. Chewning, L. A Simmons, R. A. Davis, J. M. Sullivan, H. A. Sims, T. B. Holman, Wade Welch, W. W. Bishop R L. Morris, who is now acting as assistant bank commissioner and who has the books and the responsibility of liquidating the affairs of the Bank of Foreman, was the first witness introduced by the state. His testimony was principally the reading of the records of the bank with reference to its balances, loans, withdrawals and deposits during the period covering January 3 to 18. The books showed large withdrawals during that period as well as loans totaling large sums. The reading of the books was a maze of figures best understood by accountants, L. B. Anderson testified that he had charge of the business of Willis Hopson dating from January 1st this year. Hopson carried a time certificate of deposit there for $48,500, soon maturing. Had given notice that he would withdraw $15,000. Cook had suggestcd that he make it $10,000 and had later said that owing to conditions they could not spare that much then to be drawn from their reserve. Anderson further testified that he loaned L. J. Atkinson $15,000 and gave him a check on the account, which he supposed was passed to the credit of Mr. Atkinson. Anderson was asked about